GBPUSD technical analysis 02.04.18

GBPUSD

The pair has found support at the level of 1.4010 and may continue its local growth while remaining within the range of 1.4010–1.4115. The pair is still receiving support due to the fast resolution of Brexit crisis and the likelihood of the Bank of England raising the interest rates as early as this May.

The pair is testing the middle Bollinger band, above SMA 5 and SMA 14. RSI stopped at the level of 50% moving downwards. Stoch are growing.

Trading recommendations:

If the pair breaches the level of 1.4045, it may experience a local growth up to 1.4115.